Let Y1 Y2 Y8 be the order statistics of eight independent observations from a continuous type distribution with 70th percentile 0 7 27 3 (a) Determine P(y7 27 3) (b) Find P(Y5 27 3 Y8) ...

Let Y1 < Y2 < < Y8 be the order statistics of eight independent

Question:

Let Y1 < Y2 < · · · < Y8 be the order statistics of eight independent observations from a continuous-type with 70th percentile π0.7 = 27.3.
(a) Determine P(y7 < 27.3).
(b) Find P(Y5 < 27.3 < Y8).
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...